Idea Creation Model
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This document provides a three-step model for finding a startup idea: 1) Go broad by identifying megatrends and opportunities they enable, 2) Go deep to uncover meaningful problems within those trends, and 3) Validate ideas with influential customers. It encourages focusing on problems that can be solved with a unique offering to a large market aligned with passions. The ideal idea fits the "sweet spot" of solving a big problem, having a unique solution, targeting a large market driven by a megatrend.
Idea Creation Model
- 1. Find Your Startup Idea: The Idea Creation Model Sean O’Malley Entrepreneur http://seancomalley.com
- 2. Youʼre looking for your big idea
- 3. An idea that will grow big...fast
- 4. But youʼre still looking for the ʻrightʼ idea
- 5. Youʼre still looking because you havenʼt found your idea sweet spot
- 6. The Idea Sweet Spot Solve a big problem provide a unique offering Large Market & MegaTrend Where do you Focus on Blue Ocean want to play? Opportunity Your World’s Passion Best B
- 7. But how do you find your idea sweet spot?
- 8. Because ideation is inherently messy and non-linear
- 9. One method is the idea creation model Place yourself here to: unleash ideas vet the best ideas choose the ‘one’
- 10. The Idea Creation Model 1. Go broad 2. Go deep 3. Customer discovery Where are the Where are the Who are the real B opportunities? problems? customers? Does it fit your Idea Sweet Spot (if no)?
- 11. 1. Go broad and align with a Megatrend
- 12. Going broad means uncovering the biggest Megatrends where you have interest
- 13. But what is a Megatrend?
- 14. SMS location-based services Baby boomers aging Mobile e-commerce real-time web Megatrends are demographic, behavioral or technology tsunamiʼs Global warming Global workforce Bite size media The death of traditional media Health care coverage Credit crisis
- 15. And how do I uncover the Megatrends?
- 16. Talk to industry pundits Talk to innovative companies Talk to venture capitalists Read everything that seems relevant
- 17. 2. Go deep to uncover the meaningful problems
- 18. Going deep means looking at all the meaningful problems created by the Megatrend and developing a concept solution
- 19. But what are meaningful problems?
- 20. Baby boomers keeping in touch Driver’s can’t find what they need Teenagers use SMS as a primary form of communications Mobile consumers want to compare goods Teenagers need tools to pay for goods Meaningful problems are large, blue ocean opportunities that can inspire Managing electricity Coordinating a global workforce consumption No time to consume media No credit Costly health care coverage
- 21. And how do I uncover meaningful problems?
- 22. Talk to influential customers Talk to industry pundits Talk to venture capitalists Read everything that seems relevant
- 23. 3. Validate with influential customers
- 24. Validating with customers means getting in front of potential customers to hear their problems, wants, needs and desires
- 25. Reach the Mac user....not the PC user
- 26. And how do I find these customers?
- 27. Surveys Google Ad Words Concept product
- 28. How do I choose the one?
- 29. The Idea Selection Map High Passion Idea 1 Idea 3 Large Blue Ocean Idea 4 Idea 2 Size of addressable market
- 30. Other Idea Selection Factors Factor Idea 1 Idea 2 High customer ++++ ++ lifetime value Unique ++++ ++ distribution model Capital efficiency ++++ ++++ Margins ++++ +
- 31. If you remember anything... Most successful ideas are about making lives better
- 33. Image Credits By Mariajc By Imagonovus on Flickr on Flickr By davipt By Froot Smoothie on Flickr on Flickr By jovisalsa47 By dgray xplane on Flickr on Flickr By Dalla* By Reini68 on Flickr on Flickr By Lensbs By Snelvis on Flickr on Flickr